What is an interchange fee?

An interchange fee vendors pay Fundbox, just like when accepting payments with a credit card.

 

The interchange fee is a percentage of each purchase made by customers — Fundbox simply withholds that amount when sending funds from a customer’s Fundbox account to a vendor’s bank account.

 

For example, if a customer makes a purchase for $100, and the interchange fee is 2%, the vendor will receive $98. Fundbox will withhold $2 for the interchange fee.

 

How much is the interchange fee?

Can the interchange fee change over time?

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